onsemi and Synaptics Announce Revised Merger Agreement
Globe Newswire•01/10/2026•16:34 ET
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Key Highlights
- ➤onsemi (ON) to acquire Synaptics (SYNA) for $123 per share in cash
- ➤Transaction value approximately $5.7 billion, down from approximately $7 billion
- ➤Transaction expected immediately accretive to onsemi’s non-GAAP EPS
- ➤Additional synergies beyond previously announced $200 million annual run-rate expected after closing
- ➤Transaction expected to close by mid-2027, pending shareholder and regulatory approvals
Expert Statements
Hassane El-Khoury, President and CEO of onsemi
“As was the case when we initially announced the acquisition, Synaptics addresses an important aspect of our strategic direction, and we believe the revised merger agreement represents a more financially attractive transaction for our shareholders.”
Hassane El-Khoury, President and CEO of onsemi
“The all-cash transaction delivers higher value to our shareholders through lower total cost consideration, and we now expect the transaction to be immediately accretive to non-GAAP EPS upon closing.”
Hassane El-Khoury, President and CEO of onsemi
“In addition, we have identified incremental opportunities to create shareholder value beyond the previously announced $200 million of annual run-rate synergies.”
Hassane El-Khoury, President and CEO of onsemi
“These additional benefits from revenue synergies and insourcing of a portion of Synaptics’ production are expected to be realized after the initial 18 months post-close, further strengthening the long-term earnings and cash flow profile of the combined company.”
Hassane El-Khoury, President and CEO of onsemi
“Synaptics is accretive to our long-term model, with a strong growth outlook and attractive gross margin profile that will help accelerate onsemi’s evolution.”
Hassane El-Khoury, President and CEO of onsemi
“Additionally, Synaptics complements growth in our AI data center business, and brings to onsemi its highly profitable human-machine interface, and sensing products businesses that generate strong and predictable cash flows, providing the combined company with a durable funding engine to accelerate its connected compute capabilities.”
Rahul Patel, President and CEO of Synaptics
“Our Board has been singularly focused on delivering the best outcome for our shareholders, and today’s amended agreement reflects that commitment.”
Rahul Patel, President and CEO of Synaptics
“By transitioning to an all-cash structure, we are providing value certainty at a meaningful premium as compared to current value. We are confident this path is the right choice for our shareholders.”
Revised Terms to Deliver Higher onsemi Shareholder Value through Immediate EPS Accretion
Amended Agreement Follows Thorough Review of Unsolicited Competing Proposal
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